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Investors scared off by Brazil’s political turmoil are returning to its currency, lured by the potential for Latin America’s second-highest carry return. The selloff in the real immediately after fresh corruption allegations were leveled at President Michel Temer last month has now subsided, with one-month price swings falling below expected volatility levels based on options... Continue Reading →
Brazil's Supreme Court is expected to rule on Thursday whether terms of plea bargains struck in the nation's sweeping corruption probes can be revised by the full court, a move critics worry could sharply weaken the most potent weapon prosecutors wield in rooting out graft. The court on Wednesday began debating that topic, and two... Continue Reading →
All of them located in shallow waters of the Gulf of Mexico Juan Carlos Zepeda, president of the National Hydrocarbons Commission, which is Mexico’s energy regulator and organizer of the auctions, at the auction Monday in Mexico City. PHOTO: REUTERS By Robbie Whelan June 19, 2017 MEXICO CITY—Mexico awarded 10 blocks of oil and gas... Continue Reading →
Brazil's federal police on Tuesday delivered to a top court justice the bulk of their investigation into allegations that President Michel Temer took bribes in exchange for political favors doled out to the world's largest meatpacker, JBS SA. The document, made public by the top court, is a significant step in the investigation, which is... Continue Reading →
A Brazilian Senate committee on Tuesday rejected President Michel Temer's labor reform bill, in an unexpected blow to his administration that does not kill the pro-market proposal but shows weakening support for his agenda. Even after being rejected in the social affairs committee by 10 to 9 votes, the proposal moves to the constitutional and... Continue Reading →
SAN RAMON, Calf.--(BUSINESS WIRE)--The United States Supreme Court has denied a certiorari petition seeking review of a decision by the U.S. Court of Appeals for the Second Circuit affirming extensive district court findings that a $9.5 billion Ecuadorian judgment against Chevron Corporation was the product of fraud and racketeering activity, and unenforceable in the United... Continue Reading →
Conditions remain favorable for interest rates to continue falling in Brazil and the main risk for that scenario is uncertainty over proposed economic reforms, central bank chief Ilan Goldfajn said on Monday at an event in São Paulo, according to prepared remarks published online by the bank. The central bank has cut interest rates by... Continue Reading →
Norwegian subsea services provider DOF Subsea has decided to wait with launching the initial public offering (IPO) after all due to volatile market. The company’s shareholders, DOF ASA with 51% and a fund managed by First Reserve with 49% ownership, started considering the opportunity for the company to apply for a listing on Oslo Stock Exchange in May.... Continue Reading →
Oil giant ExxonMobil on Friday made a final investment decision (FID) to proceed with the first phase of development for the Liza field, one of the largest oil discoveries of the past decade, located offshore Guyana. The company also on Friday announced positive results from the Liza-4 well, which encountered more than 197 feet (60... Continue Reading →
Norway has been producing oil and gas for almost half a century, since the first production at the Ekofisk field in 1971. According to the Norwegian Petroleum Directorate, when it comes to oil and gas production, the Scandinavian country is not halfway done yet. Since 1990, total resources, including the estimate for undiscovered resources in... Continue Reading →
Brazil Energy Insight 